Oppenheimer Keeps Hold Rating on Cirrus Logic Amid Mixed Q1 Earnings

Rick Schafer from Oppenheimer maintains a Hold rating on Cirrus Logic (CRUS) with a price target of $121.00. The company reported a quarterly revenue of $424.46 million and a net profit of $71.27 million. Corporate insider sentiment is negative, with 30 insiders selling shares over the past quarter. Schafer is a top 25 analyst with a 26.7% average return and a 73.60% success rate.

Cirrus Logic Inc. (CRUS) reported strong revenue performance for the June quarter, despite navigating challenges in product mix and market diversification. The company's revenue reached $407.3 million, exceeding the top end of its guidance range, and was up 9% year-over-year [1]. This robust performance was driven by strong smartphone demand, although the company noted a 4% sequential decline due to lower smartphone unit volumes [1].

Cirrus Logic maintained its leadership position in the flagship smartphone audio business, with new products like the custom boosted amplifier and 22 nanometer smart codec contributing to customer product performance [1]. The company is also expanding its high-performance mixed signal solutions, particularly in camera controllers, which shows potential for market expansion and revenue diversification [1].

Rick Schafer from Oppenheimer maintains a Hold rating on Cirrus Logic with a price target of $121.00. The company reported a quarterly revenue of $424.46 million and a net profit of $71.27 million [2]. Corporate insider sentiment is negative, with 30 insiders selling shares over the past quarter [2]. Schafer is a top 25 analyst with a 26.7% average return and a 73.60% success rate [2].

Cirrus Logic's gross margin decreased sequentially to 52.6% due to a less favorable product mix and a return to a more typical pricing environment [1]. Operating expenses increased year-over-year by $1.5 million, largely due to higher employee-related costs, which could impact profitability [1]. The company anticipates that sales will be more weighted towards the first half of the fiscal year, which may indicate potential challenges in maintaining revenue momentum in the latter half [1].

The company's strong balance sheet, with $847.8 million in cash and investments and no debt, provides financial stability and flexibility for future investments [1]. However, there is uncertainty regarding the impact of the One Big Beautiful Bill Act on the company's tax obligations, which could affect future financial results [1].

References:
[1] https://www.gurufocus.com/news/3038966/cirrus-logic-inc-crus-q1-2026-earnings-call-highlights-strong-revenue-performance-amidst-market-volatility
[2] https://www.oppenheimer.com/analyst-reports/cirrus-logic-inc-crus